Page 17 - GNOC Policies and Procedures Handbook

When the card is used all supporting documentation like receipts, invoices, statements and so on are to
be kept by the staff member and handed in to the Executive Director as soon as possible after return.

The steps in the process of accountability for credit cards issue and use are as follows:

• Use of the Card. The executive member is faced with an urgent and unexpected legitimate
expenditure while on GNOC business. The card is used to meet these expenses. The
receipts, statements, invoices and all supporting documents are kept by the executive member
and handed to the Executive Director on return.

• Supporting Documents. The Executive Director examines and verifies all expenditure on
the card through the supporting documents. If supporting documents are not available a
written statement from the executive member is needed.

• Reconciliation with Bank Statements. At the end of the month, the executive member
justifies expenditure of on credit card bank statement.

The Finance Officer verifies this against receipts and codes the expenditure in the accounts
through QuickBooks.

Any variations in amounts, charges, or other entries/transactions are referred to the executive
member for written explanation.

• Paying the Account. When checked, cleared and the reconciliation completed the processing
of the account payable proceeds in the normal way.

• File the Documentation. The full supporting documentation is then filed for future
reference and audit.

4.11 Payment of Salaries

Employees are paid on a semi-monthly basis on the 15 and last day of each month.
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If payday falls on a Saturday, Sunday, or any other day that financial institutions would normally be
closed, payday will be rescheduled for the earlier business day.

For example, if April 15 is on a Sunday, payday will be moved to Friday, April 13.

All payments are made directly to the employee via payroll check.

4.11.1 Social Security & Medicare Payments & Contributions

Social Security and Medicare tax contributions will be paid by GNOC, as required by law. GNOC pays
7.65% as the employer contribution for Social Security and Medicare and processes payment for the
employee contribution, as well, of an additional 7.65% of the required gross wage deduction or
contribution made. The total 15.3% gross wage tax is paid directly to the Internal Revenue Service,
as required by law. Regular and Annual supporting documents are filed as necessary as well.

4.11.2 Withholding Federal Tax

GNOC makes tax payments to the government’s Treasurer of Guam on your behalf every pay period.
Checks for this tax is deducted from GNOC employees and paid directly to the Treasurer of Guam,
after each pay period, as required by law. Quarterly and Annual supporting documents are filed as
necessary. Tax forms are provided to employees at the end of each year for the filing of federal taxes
to the Government of Guam.

GNOC Office Policies & Procedures 19